Final answer:
An ethical dilemma facing modern managers is balancing fair compensation and addressing the concern that executive pay is often viewed as excessive, which poses ethical challenges in terms of corporate governance and accountability.
Step-by-step explanation:
Among the statements, the one that describes an ethical dilemma modern managers face is the observation that nearly three-fourths of Americans believe executive pay packages are excessive. This sentiment reflects the ethical considerations pertaining to fair compensation and inequality within corporations, which is a challenge that modern managers must navigate. Balancing the interests of shareholders and stakeholders is further complicated by the legal rights afforded to corporations and their potential moral responsibilities towards various parties, including employees, customers, and the community. Managers also face ethical decisions involving compliance with established regulations such as the Sarbanes-Oxley Act, designed to prevent accounting fraud and protect investors. Furthermore, ethical considerations for emerging technologies come into play, often requiring adherence to specific codes of ethics like those set forth by professional organizations to ensure responsible and virtuous conduct in business practices.